Deduction u/s 10(23C) – activities of the Board for educational ...

Tax Exemption Denied: Board's Profit Motive u/s 10(23C) Disqualifies Educational Activity Claim.

November 9, 2013

Case Laws Income Tax AT

Deduction u/s 10(23C) – activities of the Board for educational purposes - profit motive - huge profits and surplus income - benefit of exemption denied - AT

View Source

← Previous Next →

Deduction u/s 10(23C) – activities of the Board for educational ...

Tax Exemption Denied: Board's Profit Motive u/s 10(23C) Disqualifies Educational Activity Claim.

November 9, 2013

Case Laws Income Tax AT

You may also like:

Grant of approval for exemption u/s.10(23C)(vi) - AOP - Since the AOP is recognised as a "person" for the purpose of Income Tax Act, 1961 and Section 10(23C) of the Act...

Entitlement for exemption u/s 10(23C)(vi) – Exemption u/s 11 – Deposits and donations added – Nature of the Institution – Educational OR profit motive - exemption allowed - AT

Exemption u/s 10(23C)(vi) – mere existence that there is some profit does not disqualify the petitioner if the sole purpose of existence was not profit making but...

Denial of exemption u/s 10(23C)(vi) - CIT(E) observed the huge surplus which indicates that the activities are conducted with the motive of profit. - even if for any...

Rejection of the application filed u/s. 10(23C)(vi) - university / educational institution - means may be determined based on economic condition or the situation of the...

Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance....

Withdrawal of exemption granted u/s 10(23C)(iv) - DGIT(E) erroneously drew a distinction between corpus and non-corpus donations made by it to HNF - Hamdard’s is not...

Exemption u/s10 (23C)(vi) denied - the petitioner exists solely for educational purposes and not for the purposes of profit - revenue directed to grant approval to the...

Exemption under Section 10 (23C) (vi) refused - if surplus is generated year after year, it cannot be said to be existing solely for educational purposes - exemption denied - HC

Exemption u/s 10(23C)(vi) denied - exemption u/s 11 and 12 denied - the exemption u/s 11 and 12 of the Act cannot be denied only on the basis of rejection of application...

Exemption under 10(23C) - It is not statutorily incumbent upon the assessee to obtain registration u/s 12A of the Act, to enable it for exemption u/s 10(23C) of the Act....

Approval for exemption u/s 10 (23C) (vi) denied - existing solely for the educational activities or not - If the surplus is utilized for educational activities then it...

Exemption under section 10(23C)(iiiad) - educational purpsoe - If the existence of the assessee was not for the purposes of profit, but solely for educational purpose,...

Educational trust's appeal against denial of exemption u/s 10(23C)(iiiad) was allowed by ITAT. The trust, established in 1962, exclusively provides government-recognized...

Assessee society's activities allowed as eligible for deduction u/s 10(23C)(vi) for previous assessment years. AO denied exemption u/s 11, alleging profits from...

Quick Updates: